(215 ILCS 5/62) (from Ch. 73, par. 674)

(Section scheduled to be repealed on January 1, 2027)

Sec. 62. Authority to exchange contracts. Individuals, partnerships and corporations of this State are hereby authorized to exchange reciprocal or inter-insurance contracts with each other or with individuals, partnerships and corporations of other states and countries, in accordance with the provisions of this Code and not otherwise. All insurance contracts so exchanged shall be executed by an attorney-in-fact duly authorized and acting for the subscribers.

(Source: Laws 1937, p. 696.)